Fossil Energy
Statoil: Gudrun field worth the wait (VIDEO)
At 07.25 on 7 April, Statoil and its partners (GDF SUEZ and OMV) started production on the Gudrun oil and gas field in the North Sea. “Gudrun is the first new Statoil-operated platform to come on stream on the Norwegian continental shelf since 2005. This is a red-letter day for the company,” says Ar
Alfa Laval buys Frank Mohn AS for $2.16 Billion
Alfa Laval – a world leader in heat transfer, centrifugal separation and fluid handling – has signed an agreement to acquire Frank Mohn AS, a leading manufacturer of submerged pumping systems to the marine and offshore markets. The acquisition, which strengthens Alfa Laval’s fluid handling portfolio
Tullow refinances credit facility
Tullow Oil plc (Tullow) has refinanced its US$500 million corporate revolving credit facility and has successfully increased the size of the facility to US$750 million and extended the tenor to April 2017. The arrangement is a fully committed, secured and revolving credit facility and replaces the p
EMGS hired by North Energy for North Sea survey
Electromagnetic Geoservices ASA (EMGS) has received a Letter of Award (LOA) from North Energy ASA for a contract of NOK 20 million (USD 3.3 million) for 3D EM data acquisition over and in the vicinity of license PL509S in the North Sea, offshore Norway. “This contract means that EM is becoming accep
Dolphin enjoys high-demand for its seismic vessels
Norwegian seismic survey specialist Dolphin Geophysical today said it re-positioned the operative seismic vessels in end of 2013 and has achieved high vessel utilization and good performance on theseismic fleet which provided the company with historical high total revenues of $80 million for the fir
Oil flows at Petrobras’ Sapinhoa field, offshore Brazil
Petrobras has announced the start-up of the well 7-SPH-04-SPS, at a water depth of 2,120 meters, in Sapinhoá field, in the Santos Basin Pre-Salt Region. The well, which started flowing oil on Thursday, April 3rd, has an estimated production potential of 26,000 barrels of oil per day (bpd) and is int
PA Resources, EnQuest farm-out deal in Tunisia hits snag
In May 2013 PA Resources entered into an agreement to sell to EnQuest 70% interests in, and to transfer the operatorship of, the offshore assets in Tunisia which include the Zarat Permit and the Didon Concession. Due to the political situation in the country the transaction is still waiting to be ra
ION, Polarcus to shoot seismic offshore Ireland
ION Geophysical Corporation is collaborating with Polarcus to acquire a new 4,000 sq. km. 3D multi-client seismic survey offshore southwest Ireland, the first major survey of the significantly underexplored deep-water Southern Porcupine Basin. Drilling results in the area have proven the existence o
Scottish oil worker shot dead in Brazil
An oil worker from Scotland has been killed in a carjacking attempt in Rio de Janerio, Brazil. According to the Aberdeen-based Press and Journal, a Diamond Offshore employee Peter Campsie, 48, from Angus, Scotland was shot dead in a municipality of Niteroi, Wednesday, April 2, as two robbers tried t
Most popular articles of the week, March 1 – 6, 2014
Read about new FPSO in Africa, a prison sentence for an oil company CEO, world’s largest offshore platform, offshore oil computer game, big job boom in North Sea, Kulluk drillship grounding etc
Baker Hughes weekly rig count: U.S. offshore rigs down by 3
Baker Hughes Incorporated has posted its Weekly Rig Count report. According to the report the U.S. offshore rig count has dropped by 3 from the last week. BHI Rig Count: U.S. + 9 to 1818 rigs U.S. Rig Count is up 9 rigs from last week to 1818, with oil rigs up 11 to 1498, gas […]
USCG: Shell’s attempt to avoid tax in Alaska partly led to Kulluk grounding
The U.S. Coast Guard Thursday released the report of investigation into the circumstances surrounding the grounding of Shell’s conical drilling unit Kulluk on the eastern coast of Sitkalidak Island, Alaska, Dec. 31, 2012. The Coast Guard said that the most significant factor which led to the inciden
W&T Offshore fined for false royalty reporting
The Department of the Interior’s Office of Natural Resources Revenue (ONRR) announced today that it has assessed W&T Offshore, Inc., a $2,333,000 civil penalty for “knowing or willful submission” of false or inaccurate royalty reports. “Accurate reporting is a first line of defense in ensuring that
HitecVision raises $1.9 B for further investments
HitecVision, the leading European private equity investor focused on the oil and gas industry, has received commitments of USD 1.9 billion for its new fund HitecVision VII L.P., exceeding the USD 1.5 billion target. The strong interest from existing and new investors attests to HitecVision’s value c